Victory Capital Management Inc. Trims Stake in Verra Mobility Co. (NASDAQ:VRRM)

Victory Capital Management Inc. lessened its holdings in shares of Verra Mobility Co. (NASDAQ:VRRM) by 2.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 261,936 shares of the company’s stock after selling 7,006 shares during the quarter. Victory Capital Management Inc.’s holdings in Verra Mobility were worth $7,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westwood Holdings Group Inc. purchased a new stake in shares of Verra Mobility during the first quarter valued at $78,881,000. Swedbank AB bought a new position in Verra Mobility in the 1st quarter worth about $26,218,000. Norges Bank purchased a new position in shares of Verra Mobility during the fourth quarter worth approximately $21,740,000. Lazard Asset Management LLC raised its stake in shares of Verra Mobility by 244.0% during the first quarter. Lazard Asset Management LLC now owns 1,309,245 shares of the company’s stock valued at $32,691,000 after acquiring an additional 928,597 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Verra Mobility by 51.5% in the first quarter. Jupiter Asset Management Ltd. now owns 1,083,037 shares of the company’s stock valued at $27,043,000 after purchasing an additional 367,976 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on VRRM shares. Deutsche Bank Aktiengesellschaft upped their target price on Verra Mobility from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley boosted their price target on shares of Verra Mobility from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th.

Verra Mobility Trading Up 0.6 %

Verra Mobility stock opened at $27.15 on Monday. Verra Mobility Co. has a one year low of $18.31 and a one year high of $31.03. The stock has a market cap of $4.52 billion, a PE ratio of 54.30, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 2.36, a quick ratio of 2.47 and a current ratio of 2.57. The stock has a 50-day moving average of $28.26 and a two-hundred day moving average of $26.38.

Verra Mobility (NASDAQ:VRRM) last released its earnings results on Thursday, August 8th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Verra Mobility had a net margin of 11.34% and a return on equity of 39.89%. The company had revenue of $222.43 million during the quarter, compared to analysts’ expectations of $220.32 million. During the same period last year, the business earned $0.27 EPS. Verra Mobility’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts anticipate that Verra Mobility Co. will post 1.07 EPS for the current fiscal year.

About Verra Mobility

Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Australia, Canada, and Europe. It operates through three segments: Commercial Services, Government Solutions, and Parking Solutions. The Commercial Services segment provides automated toll and violations management, and title and registration services to rental car companies, fleet management companies, and other large fleet owners.